The Chair of the Customs Valuation Agreement Committee has provided an update on the current notification status regarding customs valuation legislation. According to Article 22 of the Customs Valuation Agreement, members are required to submit complete texts of their national legislation in one of the three official WTO languages. They must also notify the Committee of any changes in laws and regulations relevant to this Agreement.
At a recent Committee meeting, 34 specific notifications were considered. The Chair reported that 117 members have notified their national legislation on customs valuation, and 87 members have responded to a checklist of issues. Nine new notifications resulted directly from a Customs Valuation Workshop organized by the Secretariat in May, which aimed to assist developing and least-developed members with their notifications.
The WTO Secretariat highlighted that the workshop benefited from the expertise and diverse experiences of participating customs officials and a World Customs Organization (WCO) official. Each participant developed an action plan outlining steps for completing their notification projects, which are being followed up by the Secretariat.
Representatives from members who recently submitted customs valuation notifications shared their experiences during the workshop. Additionally, it was announced that a national workshop on the Customs Valuation Agreement will take place in Nigeria from January 21-25, 2025, delivered by the WTO Secretariat alongside a valuation expert identified with the WCO.
The Committee also oversees the PSI Agreement, which involves employing private companies to verify shipment details like price, quantity, and quality of goods ordered overseas. In November 2023, the Committee initiated its sixth triennial review as per Article 6 of the Agreement. This review examines provisions, implementation, and operation while considering objectives and experience gained.
With 2025 marking the 30th anniversary of the Customs Valuation Agreement's enforcement since January 1, 1995, this milestone is described as "a significant achievement worth celebrating by the Committee." A special event will be held at their next meeting on May 9, 2025, highlighting how this agreement has been essential for stability and predictability in customs valuation over three decades.